News

February 04, 2010

Good News From North Africa – This time from Egypt Where The Geyad-2X STI Oil Well Has Started Production In The Onshore NW Gemsa Concession

The last time we wrote about Circle Oil we said the latest good news was out of Morocco. Circle has two success stories going on in North Africa with what seems like an unbroken string of drilling results from both Morocco and Egypt. This time there is a positive result from Egypt.

Circle has announced that the Geyad-2X ST1 well has commenced output in the onshore NW Gemsa Concession in Egypt. Production has started from the upper of the two identified pay zones in the Kareem Shagar Sandstone. The lower untested pay zone, the Kareem Rahmi Sandstone, is to be further evaluated at a later date.

The Geyad-2X ST1 well is producing at a rate of approximately 2,100 bopd. There have been a number of successful wells on the Al- Amir development lease also in NW Gemsa. Overall,...